https://www.taxtmi.com/caselaws?id=311782 The Tribunal allowed the appeal, directing the A.O. to admit the cancellation deed and re-examine the issue in light of the new evidence. It emphasized the necessity of considering all relevant documents to ensure justice in the assessment process. The Tribunal found contradictions in the statements regarding the payment of consideration and determined that the cancellation deed raised doubts about the transaction's nature, warranting further examination. The decision overturned the CIT(A)'s order, which had upheld the A.O.'s initial dismissal of the rectification application under section 154 of the I.T. Act. en-us Mon, 19 Jul 2010 00:00:00 +0530 Fri, 12 Jan 2024 14:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311782 The Tribunal allowed the appeal, directing the A.O. to admit the cancellation deed and re-examine the issue in light of the new evidence. It emphasized the necessity of considering all relevant documents to ensure justice in the assessment process. The Tribunal found contradictions in the statements regarding the payment of consideration and determined that the cancellation deed raised doubts about the transaction's nature, warranting further examination. The decision overturned the CIT(A)'s order, which had upheld the A.O.'s initial dismissal of the rectification application under section 154 of the I.T. Act. Case-Laws Income Tax Mon, 19 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311782